Question 1

A firm using a concentrated targeting strategy aims its marketing activities at one segment of a market.

Accepted Answer

A) True 
 B)False

Question 2

Estimating the cost of entering a market and focusing on a specific target segment is important because

Accepted Answer

A)  cost estimates are crucial to estimating sales potential accurately. 
B)  higher costs will keep other potential competitors from entering that particular segment. 
C)  customers are more likely to be attracted to marketers that invest heavily in the target segment. 
D)  the organization's marketers need to know if they can reach the segment at costs equal to or below competitors' costs. 
E)  higher cost generally ensures long-term success. 
A)  cost estimates are crucial to estimating sales potential accurately. 
B)  higher costs will keep other potential competitors from entering that particular segment. 
C)  customers are more likely to be attracted to marketers that invest heavily in the target segment. 
D)  the organization's marketers need to know if they can reach the segment at costs equal to or below competitors' costs. 
E)  higher cost generally ensures long-term success.

Question 3

The first step in the target market selection process is

Accepted Answer

A)  determining which segmentation variables to use. 
B)  selecting specific target markets. 
C)  identifying an appropriate targeting strategy. 
D)  evaluating relevant market segments. 
E)  developing market segment profiles. 
A)  determining which segmentation variables to use. 
B)  selecting specific target markets. 
C)  identifying an appropriate targeting strategy. 
D)  evaluating relevant market segments. 
E)  developing market segment profiles.

Question 4

In the context of marketing,cannibalization means

Accepted Answer

A)  one company eating up another company's market share. 
B)  sales of a new product hurts sales of the company's existing products. 
C)  a product is past its prime and should be deleted from the product mix. 
D)  a company illegally uses copyrights and patents from another company. 
E)  sales of a new product may exceed sales of an older,more established product. 
A)  one company eating up another company's market share. 
B)  sales of a new product hurts sales of the company's existing products. 
C)  a product is past its prime and should be deleted from the product mix. 
D)  a company illegally uses copyrights and patents from another company. 
E)  sales of a new product may exceed sales of an older,more established product.

Question 5

Lifestyle is a product-related variable.

Accepted Answer

A) True 
 B)False

Question 6

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix,the best approach to use may be the ____ strategy.

Accepted Answer

A)  undifferentiated 
B)  differentiated 
C)  segmented 
D)  concentrated 
E)  heterogeneous 
A)  undifferentiated 
B)  differentiated 
C)  segmented 
D)  concentrated 
E)  heterogeneous

Question 7

During the evaluation of relevant market segments,competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments.

Accepted Answer

A) True 
 B)False

Question 8

Adolescents are not considered part of the market for casinos because they

Accepted Answer

A)  have very little buying power. 
B)  do not have the desire to gamble. 
C)  are not willing to spend their money on gambling. 
D)  cannot afford to gamble their savings. 
E)  do not have the authority to gamble. 
A)  have very little buying power. 
B)  do not have the desire to gamble. 
C)  are not willing to spend their money on gambling. 
D)  cannot afford to gamble their savings. 
E)  do not have the authority to gamble.

Question 9

All of the following statements about product positioning are true except

Accepted Answer

A)  product positioning decisions are not only for new products. 
B)  product positioning is the customer's absolute perception of a product's attributes. 
C)  effective product positioning helps serve a specific market segment by creating an appropriate concept in the minds of customers in that market segment. 
D)  product positioning is concerned with creating and maintaining a certain concept of the firm's product in customers' minds. 
E)  when marketers position a product,they try to position it so that it seems to possess the characteristics the target market desires. 
A)  product positioning decisions are not only for new products. 
B)  product positioning is the customer's absolute perception of a product's attributes. 
C)  effective product positioning helps serve a specific market segment by creating an appropriate concept in the minds of customers in that market segment. 
D)  product positioning is concerned with creating and maintaining a certain concept of the firm's product in customers' minds. 
E)  when marketers position a product,they try to position it so that it seems to possess the characteristics the target market desires.

Question 10

Perceptual maps are created by questioning a sample of customers about their perceptions of products,brands,or organizations,with respect to two or more dimensions.

Accepted Answer

A) True 
 B)False

Question 11

Guess? will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans.These 30 million pairs represent the company's

Accepted Answer

A)  sales potential. 
B)  market potential. 
C)  sales forecast. 
D)  market sales. 
E)  selected market. 
A)  sales potential. 
B)  market potential. 
C)  sales forecast. 
D)  market sales. 
E)  selected market.

Question 12

Through market tests,a forecaster gains data regarding consumers' intended purchases.

Accepted Answer

A) True 
 B)False

Question 13

Variables such as geographic location,type of organization,customer size,and type of product usage are used to segment ____ markets.

Accepted Answer

A)  consumer 
B)  business 
C)  government 
D)  international 
E)  most target 
A)  consumer 
B)  business 
C)  government 
D)  international 
E)  most target

Question 14

Discuss the differences between the breakdown and buildup approaches to measuring company sales potential.What are the similarities between these two approaches?

Accepted Answer

The answer of Discuss the differences between the breakdown and...

Question 15

If a company segments its market on the basis of their reasons for purchasing a particular product,the primary segmentation variable in use is

Accepted Answer

A)  lifestyle. 
B)  motives. 
C)  personality. 
D)  benefit expectations. 
E)  personality attributes. 
A)  lifestyle. 
B)  motives. 
C)  personality. 
D)  benefit expectations. 
E)  personality attributes.

Question 16

The ways in which customers use a particular product may be a basis for segmenting the market.

Accepted Answer

A) True 
 B)False

Question 17

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

Accepted Answer

Forecasting sales potential for the enti

Question 18

What variables are used to segment business markets?

Accepted Answer

Business markets can be segmented using

Question 19

Pillsbury defines all purchasers of flour as its target market.What targeting strategy would be most appropriate in this case?

Accepted Answer

A)  Concentrated 
B)  Differentiated 
C)  Wide appeal 
D)  Undifferentiated 
E)  Clustered 
A)  Concentrated 
B)  Differentiated 
C)  Wide appeal 
D)  Undifferentiated 
E)  Clustered

Question 20

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States,this percentage would represent the ice cream marketer's

Accepted Answer

A)  target growth rate. 
B)  sales forecast. 
C)  sales objective. 
D)  company sales potential. 
E)  market potential. 
A)  target growth rate. 
B)  sales forecast. 
C)  sales objective. 
D)  company sales potential. 
E)  market potential.

Exam 5: Selecting Target Markets

A firm using a concentrated targeting strategy aims its marketing activities at one segment of a market.

Estimating the cost of entering a market and focusing on a specific target segment is important because

The first step in the target market selection process is

In the context of marketing,cannibalization means

Lifestyle is a product-related variable.

When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix,the best approach to use may be the ____ strategy.

During the evaluation of relevant market segments,competitive assessment is used primarily to determine the possibility of additional competitors entering particular segments.

Adolescents are not considered part of the market for casinos because they

All of the following statements about product positioning are true except

Perceptual maps are created by questioning a sample of customers about their perceptions of products,brands,or organizations,with respect to two or more dimensions.

Guess? will be spending $22 million on marketing activities next year and expects to sell 30 million pairs of jeans.These 30 million pairs represent the company's

Through market tests,a forecaster gains data regarding consumers' intended purchases.

Variables such as geographic location,type of organization,customer size,and type of product usage are used to segment ____ markets.

Discuss the differences between the breakdown and buildup approaches to measuring company sales potential.What are the similarities between these two approaches?

If a company segments its market on the basis of their reasons for purchasing a particular product,the primary segmentation variable in use is

The ways in which customers use a particular product may be a basis for segmenting the market.

Why is it important for marketers to forecast sales potential for the entire industry as well as for the individual company?

What variables are used to segment business markets?

Pillsbury defines all purchasers of flour as its target market.What targeting strategy would be most appropriate in this case?

If Baskin-Robbins calculates that it could sell up to 25 percent of all ice cream cones sold in the United States,this percentage would represent the ice cream marketer's

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